Trader's Logbook

The rally of MPI yesterday is quickly overshadowed by the Dark Cloud which appears today. Fear among the bulls that they might be swallowed by the bears. Will they allow it to happen? We have seen other Dark Cloud Cover like on BLOOM which leads to price going down. But it could be different scenario [...]

Last week I was asked if MPI will go down at 5 while it was still at 5.15 and I was thinking the support above 5.0 should be strong but last Friday the downward trend of the week continues and now MPI’s price hit 5.06, just a few notches from 5.0 The red hammer was [...]

MPI closed with few flucs down from previous price creating a hammer at the bottom. MPI went deep into the support zone during the day but was able to recover at the closing. The support looks very strong as of the moment and as we see a Hammer, this suggests it might reverse from the [...]

MPI looks tired last week when it present a sell down last Thursday. The large red candlestick last Thursday accompanied with a big volume and SELL signal on RSI warns traders of an impending bearish reversal. Looking at the weekly chart we can see a Shooting Star. We have seen this type of candlestick many [...]

Looks bearish with price on the lower limit of the consolidation area (rectangle). There seems to have a head and shoulder formation as well although most often this formation is reliable if it is seen in an uptrend. H&S is a trend reversal usually found in an uptrend. Sell signal can be found on MACD. [...]